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BofA, Merrill Lynch Hit With FLSA Overtime Suit

Law360 (January 13, 2009, 12:00 AM EST) -- Bank of America Corp. and Merrill Lynch & Co. Inc. have been hit with a purported collective action by derivatives settlement specialists who claim they have been denied overtime pay, in violation of the Fair Labor Standards Act and New York labor laws.

The two employees who filed the suit were hired in 2007 by Merrill Lynch, according to the suit lodged in the U.S. District Court for the Southern District of New York on Monday. Merrill Lynch was recently acquired by Bank of America....
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